Professional Documents
Culture Documents
MCQs 2014
MCQs 2014
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Financial planning is the process of making advance provision for the financial needs arising i
In life insurance contract absense of insurable interest does not render the contract void.
A policyholder transfers his rights under a policy to another person. this is called
ULIP plan is
As per sec.45 of the Insurance act 1938early death clam is one that occurs
Where the life policy is absolutely assigned the death claim amount is paid to
Mr. XYZ has taken an Insurance plan for Rs. 10 lakhs for 15 years which stipulates that
Sum assured will be paid only if Mr. XYZ survives the policy tenure of 15 years. Which type is
If the cost of damages is met through internal resource, how the risk is managed?
What treatmrnt is given by the insurer to the difference between Rvnenue and expenses
An arrangement wherein the reinsurer steps only if the loss excceds the certin limit is called as
Underwriting is
Which is the dept. of an insurance company that deals with the selection of the risk
part of the policy money paid to the policy during the term of the policy is termed as
claim paid to the policy holder at the end of the policy term is known as
policy money paid to the policy holder before the policy term at the request of the policy holder is
A policy holder transfers his rights under the policy to another person. This is called
The person who assesses the risk associated with the life proposal is called
floating policy
Rienstatement policy is
as per Life insurance act 1956 valuation of liabilities of the insurer is to be done
EDLI is
Mortality rate
damages due to wrongful acts of Directors and Officers while managing company affairs are covered
PML is
ceding
Retrosession means
nomination under the life policy can br done by the policy holder
In the Decclaration policy under fire Insurance initial premium paid is at the rate of
assignment
on the death of the assignee rights under the policy will vest
As per section 45 of the insurance act 1938 the burden 0f proof lies with the insurer for repudiating th
for the statements false and material to the risk ,if claim occurs
The period within which the policy holder can revoke the life insurance contact is called as
Under ULIP type of policy opting one type of investment fund from the other type of fund is called as
ESIC is
GSLI is
in general insurance maximum amount the insurer wishes to keep on risk is known as
Column B--The Questions /Statements Column C - Multiple Choices / mactching statements Column
EACH question carries 1 mark. No negative matks.
a) To the assignee
Prevention
Transfer
Reduction
Retaining
a) Enrollment fee
b) Premium
c) Installment
d) Bonus
a-IRDA
b-Depoosit insurance and credit gurantee Corporstion
c-Export Credit and Gurantee Corporation
d-Life Insurance Corporation
a) It is included as profit
b) It is paid to shareholders as dividend
c) Hald in reserve to play the claim cost
d) Reurned to the policy holdrers
a) Excess of loss
b) Quota share
c) Ceding
d)Pool arrangement
a) IRDA regulations
b) Company guidelines
c)The Insurance Act
d) None of the above
a) transfer
b) retention
c) avoidance
d None of the above
a) where insurer decides the premium chargeable
b) an attempt by the insurer to screen out the sub standard lives
c) exercise by the insurer to deny the insurance
d) none of the above
a) of graudation
b) passing of MBA
c) passing of course on Hospital Management
d) none of the above
a) setvicing dept.
b) marketing dept.
c)
acturial dept.
d) new business dept.
a)
b)
c)
d)
underwriting dept.
servicing dept.
matketing dept.
customer relations dept.
Actuary
underwriter
Arbitrator
Assessor
specific period
specific property
specific sum
all the above
a)childhood
b) young married
c) old unmarried
d) post retirement
a) unemployed
b) handicapped
c) minor
d)Non resident Indian
a) husbsnd-wife
b) creditor-debtor
c)
seller-customer
d) employer-employee
a) profit
b) liability
c)profit before tax
d) none of the above
a) every year
b) every two years
c) every three years
d) every four years
a)Employees Deposit Linked Insurance scheme
b) Employees Debt Linked Insurance scheme
c) Employees Data Linked Insurance scheme
d) Employees Diversity Linked Insurance scheme
a)2000
b)2001
c)1999
d)2003
a)1983
b) 1984
c)1985
d) 1986
a) Mumbai
b) Bangalore
c)Hyderabad
d)Chennai
a) simple reversionary
b) compound reversionary
c)interim
d)ad hoc
a) increases with the age
b) decreases with age
c) remains constant in early age
d)remains constant in later years of age
a) Prospective method
b) Retrospective method
c) both the methods a) and b)
d)None of the above methods
a) director and officers individual policy
b) pool of fund formed by the company
c) directors and Officers liability policy
d)terminal benefits of the director and officer
a) permanent maxinun loss
b)permanent minium loss
c)probable maxium loss
d) probable minium loss
a )security
b) food
c) shelter
d) clothing
a) passing the risk
b) retaining the risk
c)reducing the risk
d)avoiding the risk
a) 20% of the net premium or 30% of the increased claims whichever is higher
b) 20% of the increased claims or 30% of the net premium whivhever is hig
c)50% of the net increased claims
d) 50% of the net premium
a) certain diseases
b) engaged in aviation
c) family longevity
d)excessive body weight
a) sharing insurance with other insurer
b) curtailing the risk
c) avoiding the risk
d) reinsurer insuring with the other insurer
a)IRDA
b)Govt. of India
c)GIC and LIC
d) by chief justice o f india
a) no liability ,if no default
b) liability of both the claimant an the vehicle owner
c)claimant need not prove the fault of the vehicle owner
d)claimant has to justify the claim
a)cash
b)cntract documents
c) gold ornaments
d) postal orders
a)large
b)fairly homogenius
c) of age below 40
d) of all the above characteristics
a)-cash bonus
b) ex gratia bonus
c) reduction in renewal premium
d)reversionary bonus
a)damages arising out of injuries
b) damages arising out of death
c) damages to the property
d cost of repairing
a)-at the time of the contract
b)-at the time of the claim
c) both at the times of contract and claim
d) none of the above
b) ULIP
a) intervening cause
b) indirect csuse
c) direct cause
d) non intervrning cause
a) Hit and run fund
b)
Emergency fund
c) Solatium fund
d)liquid fund
a) at the time of taking the policy only
b) at any time but within 2 years of the policy
c) at any time but before maturity of the policy
at any time but within one year of the policy
a) 80% of the initial declaration
b)75% of thr initial declaration
c)50%vof the initial declaration
d) 60% of the initial declaration
a) policy holder
b)legal heirs of the assignee
c) both a) and b) above
d)in the person as directed by the court of law
a) an officer of the insurer
b) surveyor
c)investigating agency
d) IRDA personnel
a)consequential loss policy
b)floating policy
c) declaration policy
d)secific policy
a) within 1 year of the policy
b) within2 years of the policy
c) after 2 years of the policy
d) none of the above
a)risk assessment
b)risk transfer
c) risk pricing
d) risk evaluation
a) probability
b)severety
c ) ownership
d) financial
a) the Indian penal code
b)The Indian contract act
c) The Indian stamp act
d)Thr consumer protection act
a) personal injury to third party
b) death of third party
c) damage to vehicle
d) damage to third party property
a) initial period
b) gestation period
c) mandatoty period
oice/s /Matches
a) Capacity
b)
Retention
c) Ceding
d) Maximum limit
true
false
true
false
true
false
true
false
true
b-assignment
b-invrstment plan
a to the assignee
d- retaining
b- premium
a-excess of loss
a- transfer
b-matutity claim
c- assignment
b-underwriter
c- old unmarried
c- minor
c-seller- customer
b- liability
a- every year
d-1986
c- Hyderabad
d)ad hoc
a-security
b-ongaged in aviation
b-Govt.of India
d- cost of repairing
b-ulip
c-solatium fund
e policy holder
c-risk pricing
c-damage to vehicle
b-Retention